Wheels Up Lands Up To $115M Funding

September 29, 2015

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Membership-based private aviation company Wheels Up has completed its first closing on a capital raise of up to $115 million from investors that include T. Rowe Price, NEA and Fidelity Management and Research Company. The investment is said to value the company at $540 million and will be used for expansion in the U.S., as well as to set up a base of operations in Europe. Through the Wheels Up platform, users can book flights on the company's fleet of aircraft for individual, family or corporate travel. Existing investors include Corigin Ventures and Krillion Ventures.